Chase UK Cashback Doubles to 2%: New Rules, Categories and How to Qualify

What Is Changing With Chase Cashback

Chase UK, the digital bank owned by J.P. Morgan that launched in the UK in 2021, is making three changes to its cashback offer from 1 June and 1 July 2026. The rate doubles from 1% to 2%, the monthly earning cap rises from £15 to £20, and the eligible spending categories expand to include restaurants, cafes and takeaways alongside the existing categories of groceries, everyday transport, fuel and public EV charging points.

However, the qualifying criteria are also changing and becoming more demanding. The previous requirement was a minimum monthly pay-in of £1,500 into a Chase current or savings account. From 1 June 2026, the pay-in requirement is removed and replaced with two new conditions that must both be met each calendar month.

New Qualifying Criteria From 1 June 2026

To earn cashback in a given month, customers must meet both of the following criteria in the preceding calendar month:

1. Make 15 or more qualifying payments. These can be card transactions (debit or credit) or Direct Debit payments. Customers who hold both a Chase debit card and the Chase credit card can split the 15 transactions across the two. Standing orders, refunds, bank transfers and other non-card transactions do not count towards the 15.

2. Hold £1,000 or more across Chase saver accounts every day of the month. This means the combined balance across all Chase saver accounts (excluding round-up accounts) must not fall below £1,000 on any single day during the qualifying month. A temporary dip below £1,000 on any day disqualifies the customer from cashback the following month.

Cashback is assessed one month in arrears. Qualifying criteria met in June determines cashback earned in July. Criteria met in July determines cashback in August, and so on.

Timeline: When the Changes Apply

The transition dates differ depending on how long a customer has held their Chase account:

Customers with Chase for more than 12 months: The new criteria apply from 1 June 2026. To earn 2% cashback from 1 July 2026, these customers must meet both the 15-transaction and £1,000 saver balance criteria throughout June 2026. Customers who do not meet the criteria in June will not earn cashback in July.

Customers in their first 12 months with Chase: June 2026 is a grace period. These customers receive 2% cashback in June without needing to meet the new criteria. From 1 July 2026, the new criteria apply, and customers must meet them in July to earn cashback in August.

From 1 June 2026, Chase has also removed its previous introductory 1% cashback offer with no qualifying criteria for new customers. New customers opening an account from this date are subject to the new criteria from the start of their second month.

How the New Offer Compares to the Old One

The rate increase from 1% to 2% and the category expansion are positive changes for customers who spend regularly in eligible categories. However, the qualifying criteria are more restrictive than the old pay-in model, and the eligible spending cap has fallen from £1,500 to £1,000 per month.

Under the old model, a customer spending £1,500 per month in eligible categories could earn up to £15 per month (1% of £1,500). Under the new model, a customer spending £1,000 or more per month earns up to £20 per month (2% of £1,000), provided they meet the qualifying criteria. The annual maximum rises from £180 to £240.

Customers who cannot maintain £1,000 across their saver accounts at all times, or who cannot consistently make 15 qualifying transactions per month, will earn no cashback under the new model, whereas under the old model they would have earned 1% simply by maintaining the monthly pay-in.

Where Cashback Can Be Earned

Cashback applies to eligible GBP sterling purchases made in the UK and the Channel Islands using a Chase debit or credit card, in the following categories: groceries, restaurants, cafes, takeaways, everyday transport (including public transport and taxis), fuel and public EV charging points. Purchases made outside the UK or Channel Islands, or in currencies other than GBP, do not earn cashback. Bank transfers, standing orders and Direct Debit payments also do not earn cashback, even though Direct Debits can count towards the 15-transaction qualifying threshold.

Frequently Asked Questions

When does Chase UK cashback increase to 2%?

For existing customers who have held a Chase account for more than 12 months, the 2% rate applies from 1 July 2026, provided they meet the new qualifying criteria in June 2026. New customers (under 12 months) receive 2% from 1 June 2026 with a one-month grace period before the qualifying criteria apply.

What are the new Chase cashback qualifying criteria?

From 1 June 2026, customers must meet two criteria each month to earn cashback the following month: make at least 15 qualifying card transactions or Direct Debit payments, and hold at least £1,000 across Chase saver accounts (excluding round-up accounts) every day of the month. Both criteria must be met; meeting only one does not qualify.

Does the Chase credit card count towards the 15 transactions?

Yes. Customers who hold both a Chase debit card and the Chase credit card can combine transactions across both cards to reach the 15-transaction threshold. The 15 can be split in any combination between the two cards.

What happens if the saver balance drops below £1,000 for one day?

The £1,000 minimum must be maintained every day of the qualifying month. A balance that drops below £1,000 on any single day means the criteria are not met for that month and no cashback is earned the following month.